More and more Americans are choosing to move overseas; some choose to retire, and younger folks are looking for work or adventure. Many end up buying apartments, houses, condos, or other types of property. Here are some common mistakes that foreigners make when purchasing or owning international real estate.
Executor Attorney. Your estate will be handled by an executor after you die. Allowing an impartial attorney to handle the division of your estate is often the best choice you can make. If emotions are taken out of the equation, the proceedings will carry out much more smoothly.
If you decide that you do not need a lawyer and that you want to handle all of the legal forms on your own, move slow. Do not let one little missed word or concept derail your whole investing experience. The more you familiarize yourself with all the legal forms the easier each transaction will become.
Ask his work experience: How long has he been in the real estate field? Who are the people he has work at before? A good real estate insanité esprit has a good experience in his studies and in his work with the people before. This will help you in pondering if he is really worth your money and trust.
Ask his availability. Ask him how often is he available to help you. This is important because you are spending money for his time. It is just that he will spend time for you also. If a lawyer is always busy and entrusts most of his work to his secretary think well he might not be the lawyer that you are looking at. So before hiring a lawyer you should clear the terms you want with regards to his availability.
Now, I if had opened my big mouth and had said at the beginning of our negotiation talk, “I’ll need a check for $8K,” I would have never learned she had an additional $2K in her pocket. The moral being – never be the first person to talk about price.
You shouldn’t try to be your own lawyer any more than you would try to be your own dentist or surgeon. As the saying goes, “You get what you pay for.” If you think do-it-yourself estate planning software is the answer, you should read the evaluation conducted by Consumer Reports.